The "Butterfly Effect" of the POGO Ban: Philippine Real Estate Market Undergoes Deep Adjustment

In mid-2024, the Philippine government announced a complete ban on offshore gaming operators (POGOs), adamantly claiming that the impact on the real estate market would be limited. Finance Minister Ralph Recto even promised that the government would assist 40,000 POGO workers in transitioning to new

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The situation of oversupply in apartments after the withdrawal of POGO is a "temporary phenomenon".

Despite the withdrawal of Philippine Offshore Gaming Operators (POGO), the condominium market in Metro Manila has experienced a short-term oversupply. However, industry insiders believe that this trend is only temporary, and the market is expected to recover through investments in emerging industrie

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After the POGO ban, the vacancy rate of office buildings in Metro Manila approaches 20%.

According to the latest real estate market monitoring report released by CBRE Group, a real estate services and investment company, the office space vacancy rate in the Metro Manila area has risen to 19.9% in 2024, reaching a high point in recent years. This figure is equivalent to about 1.8 m

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With POGO pulling out, the oversupply of apartments in Metro Manila has caused rents to drop to their lowest level in 15 years.

According to ABS-CBN News, the residential condominium market in Metro Manila is facing an oversupply challenge, with rental prices falling to a 15-year low. This phenomenon provides a rare opportunity for tenants to rent their ideal housing at a lower cost.David Leechiu, CEO of Leechiu Property Con

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POGO Exodus: 270,000 Square Meters of Office Space Vacated, Most Moved Out Recently

Since Philippine President Marcos announced a complete ban on Philippine offshore gaming operations (POGO) in July this year, a large number of gaming companies have been shutting down or relocating.So far, about 274,000 square meters of office space have been vacated, most of which were relocated w

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Third Quarter Philippine Real Estate Market Report: The Impact of the POGO Ban is Evident in the Rental Market

Leechiu Property Consultants (LPC) has released their Q3 2024 report on the Philippine real estate market. According to their data, the presidential order banning POGOs has resulted in "approximately 50,000 square meters being vacated by the POGO industry."LPC states that this has increased the tota

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POGO ban will hit Philippine real estate industry, experts say

Financial professionals told Asia Gaming Briefing that the POGO ban announced in the Philippines will be fully implemented by the end of this year and is expected to have the most direct impact on the Philippine real estate industry. In a major move, Philippine President Ferdinand Mar

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Philippine real estate stocks plunge after President Marcos orders online casinos to close

7moon23On the 14th, Philippine President Ferdinand Marcos Jr. announced the closure of online casinos targeting Chinese gamblers, a move that is expected to leave a large amount of office space vacant, triggering a sharp drop in Philippine real estate stocks. The Southeast Asian country'

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